The New York Times: “Are Smart Thermostats Worth the Money?”
In this story, RFF Senior Fellow Karen Palmer and University Fellow Casey Wichman cite their recent research about the environmental benefits of smart thermostats.
According to a Canadian study published this month, this feature can save the equivalent of about $3.50 on a utility bill in a typical month.
“From the consumer’s perspective, it might not be super valuable,” said Casey Wichman, an environmental microeconomist at the Georgia Institute of Technology and one of the authors of the study.
So, are smart thermostats worth the money?
...The environmental benefits could be significant: When combined, small energy savings in a lot of households at the right time can make a big difference for the grid. That’s because all those small savings during peak times can help energy suppliers avoid firing up additional generators, said Karen Palmer, an economist who was also an author on the Canadian study.
Because generators used during these high-demand periods usually run on natural gas or coal, both potent sources of planet-warming emissions, that can help make a dent in climate change.
“It will make a difference,” Dr. Palmer said.
